Apple Signs Multiyear Deal with Film Studio A24

The Apple logo is shown on a screen at the Apple Worldwide Developers Conference in the Bill Graham Civic Auditorium, in San Francisco. (Source:AP Photo/Tony Avelar)

Apple has signed a multiyear film production deal with A24, the acclaimed New York-based studio behind "Moonlight" and "Lady Bird."

People close to the deal who requested anonymity because they weren't authorized to comment confirmed the agreement Thursday. Apple is investing in scripted content with the intention of competing with the likes of Netflix and Amazon. The deal connects Apple with one of the most respected makers of prestige and arthouse titles in film.

Neither Apple nor A24 commented Thursday. Unclear is how many films the deal includes, or if the movies will be released theatrically.

A24 was previously rumored to potentially be an acquisition target for Apple. This deal leaves the distributor of films like "The Witch," ''Mid90s," ''Hereditary" and "Eighth Grade" with its independence.

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